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Presentation Slides

1) Place-Based Investing Strategy Overview WHO WE ARE Founded in 1998, Community Capital Management (CCM) specializes in managing fixed income Environmental, Social and Governance (ESG)/impact investing portfolios. To date, CCM has $2 billion in assets and has invested over $6.7 billion in ESG/impact initiatives nationwide on behalf of its clients. CCM’S PLACE-BASED INVESTING OVERVIEW Appropriate for: Community Foundations, Geographic-Specific Investors CCM has been buying bonds that finance community development initiatives since 1999. This approach is proactive, positive and does not employ any negative screening. Community development initiatives include: • • • • Affordable Housing Enterprise Development Redevelopment of Blighted Communities Environmental Sustainability • • • • Affordable Healthcare Education/Child Welfare Healthy Communities Disaster Recovery Community foundations are dedicated to improving the lives of people in a defined local geographic area. Through CCM’s geographicallytargeted market-rate bond strategy, community foundations and geographic-specific investors can positively impact the future of their own communities. “Community foundations are instruments of civil society designed to pool donations into a coordinated investment and grant making facility dedicated primarily to the social improvement of a given place. A distinguishing characteristic of community foundations is their placebased focus. Community foundations thus offer exceptional opportunities to link donors’ affective ties to a particular place to investment vehicles that support social benefits. Although a handful of community foundations have been pioneers in below-market and market-rate community investment, a growing number are paying attention to emerging impact investment. This trend offers real potential to channel new sources of capital to the community investing field.” -Expanding the Market for Community Investment in the United States, US SIF Foundation CCM’S ADVANTAGE CCM actively manages bond portfolios that seek to provide investors with aboveaverage, risk-adjusted returns while financing community development initiatives. A benefit is the ability for investors to customize their bond portfolio to positively align with their social areas(s) of focus or geographies. We believe our approach provides an added layer of investment transparency by detailing the use of bond proceeds and providing comprehensive reports on the community initiatives being financed. Many of our community investments have multiple components and benefits such as affordable housing, job creation, childcare, and neighborhood revitalization. GETTING STARTED CCM manages bond portfolios within two investment vehicles: separately managed accounts (minimum: $10 million) and a mutual fund (minimums vary per share class). For investments over $500,000 in the institutional share class of the mutual fund and for all separate accounts, quarterly impact reports are provided detailing, dollar for dollar, the community development initiative and benefit for each investment earmarked. Community Capital Management Place-Based Investing Overview p1

2) CCM BOND EXAMPLES WITH A FOCUS ON PLACE-BASED INVESTING Target: Los Angeles County / Arbor Court Apartments Arbor Court Apartments is a Low Income Housing Tax Credit property where 100% of the 150 studio apartments are restricted to low- and very-low income elderly and disabled residents. The loan to Arbor Court Apartments finances the acquisition and rehabilitation of an underutilized commercial hotel into apartments. The project, located in an historic redevelopment district of Lancaster, is part of the city’s effort to create a social service “hub” for the community and will provide comprehensive on-site support services at no cost to the residents. The complex houses a 10,000 square foot adult day healthcare facility offering occupational therapy, speech therapy, and several other options of rehabilitation. There is also a salon for low-cost haircuts, a 90-station touch screen computer technology learning center, and nutritional meals offered by the Antelope Valley Committee on Aging. Green features include solar panel technology which was funded in part through MASH, Multifamily Affordable Solar Housing, which provides solar incentives on qualifying existing multifamily affordable housing. MASH is part of the California Solar Initiative which is overseen by the California Public Utilities Commission. Target: Oregon and Clark County, WA / Oregon Convention Center The City of Portland is promoting neighborhood revitalization through the creation of urban renewal areas. Urban renewal is a state-authorized, redevelopment and finance program designed to help communities improve and redevelop areas that are physically deteriorated, suffering economic stagnation, unsafe or poorly planned. Urban renewal is used as a tool to focus resources in blighted or underused areas to stimulate private investment and improve neighborhood livability. Financing was for capital projects in the Oregon Convention Center Urban Renewal Area. The Oregon Convention Center Urban Renewal Area was formed in 1989. It originally covered the Lloyd District neighborhood located in the southern portion of the Area and consisted of 509 acres. The Plan was amended a few times since then and currently consists of 410 acres. Investment in the Lloyd District neighborhood has been focused on projects and programs that encourage the emergence of the Area as hub of the State’s tourism, convention, and entertainment industry and as a livable, 24-hour component of the downtown core. Some of the projects include commercial development, mixeduse housing and restoring on-street parking. FOR MORE INFORMATION ON CCM’S PLACE-BASED INVESTING, PLEASE CONTACT: Jamie Horwitz Director of Marketing jhorwitz@ccmfixedincome.com 877-272-1977 Community Capital Management, Inc. is a Florida-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The securities identified and described herein are current holdings and for illustrative purposes. Their selection was based upon nonperformance criteria, such as the security’s social and/or environmental attributes. Impact figures mentioned in this report are approximate values. Past performance does not guarantee future results. Market conditions can vary widely over time and can result in a loss of portfolio value. Community Capital Management Place-Based Investing Overview p2